Valencia sponsors bill to reverse Bush-era tax cuts

April 11, 2014

Rep. Larry Valencia

STATE HOUSE â Rep. Larry Valencia says his legislation (2014-H 7552) reversing Bush-era tax cuts at the state level for Rhode Islandâs highest earners is not only a matter of equity, but also an idea that would potentially boost the quality of the stateâs workforce and the success of its businesses.

âThe notion that prosperity trickles down has not been effective in improving Rhode Islandâs economy. Instead of expecting prosperity to fall through the cracks toward the middle class and lower-earners, we should make the burden more equitable so those who most need to invest their limited resources on the things that enable them to get a good job, like higher education, child care and transportation, will be able to do so,â said Rep. Valencia (D-Dist. 39, Richmond, Hopkinton, Exeter). âMore money in the pockets of middle and lower income Rhode Islanders means more money being spent at our local businesses. This legislation would be a very positive development for business.â

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